{"id":175505,"date":"2023-10-17T05:24:29","date_gmt":"2023-10-16T23:54:29","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=175505"},"modified":"2023-10-17T05:24:29","modified_gmt":"2023-10-16T23:54:29","slug":"inside-the-war-room-at-ftx-sbfs-high-school-buddy-takes-the-stand-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/inside-the-war-room-at-ftx-sbfs-high-school-buddy-takes-the-stand-crypto-news\/","title":{"rendered":"Inside the \u2018war room\u2019 at FTX: SBF\u2019s high school buddy takes the stand &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>If you or someone you know is experiencing suicidal thoughts or a crisis, call or text the National Sucide Hotline at 988 immediately.\u00a0<\/em><\/p>\n<p>Week three of Sam Bankman-Fried\u2019s criminal trial kicked off in Manhattan Monday with the disgraced crypto mogul\u2019s old high-school-friend-turned-employee taking the stand as a government witness.\u00a0<\/p>\n<p>Nishad Singh, former software engineer at Alameda and FTX, rounded out the prosecution\u2019s list of \u201cinner circle\u201d members that have agreed to cooperate with the government. Singh\u2019s testimony, similar to those of his witness predecessors, got personal.\u00a0<\/p>\n<p>\u201cI was under severe emotional distress,\u201d Singh said of his mental state in November 2022 shortly before FTX declared bankruptcy. \u201cI\u2019d been suicidal for some days.\u201d\u00a0<\/p>\n<p>Tensions were high in the final days before the companies collapsed, Singh said, adding that top executives were all trying to distance themselves from culpability.\u00a0<\/p>\n<p>\u201cThere was a war room of sorts,\u201d Singh, told the jury Monday, referring to meetings Bankman-Fried and executives had in early November 2022.\u00a0 \u201cThere was a crazy blame game going on.\u201d\u00a0<\/p>\n<p>Singh corroborated the narrative his former co-workers have spun throughout the trial, confirming to prosecutors that Alameda was taking billions from FTX and that Bankman-Fried was the brains of the operation.\u00a0<\/p>\n<p>Bankman-Fried controlled nearly all of his high-level teams\u2019 activities, Singh said, adding that his former boss told him not to sell FTT tokens and directed him to sign off on loan agreements in his name. Singh said that Bankman-Fried had him take personal loans from the companies instead of selling his FTT (FTX\u2019s native token) holdings.\u00a0<\/p>\n<p>Singh, an old classmate of Bankman-Fried\u2019s back at the pair\u2019s private high school in Berkeley, California, described his relationship with his former boss as fraught.\u00a0<\/p>\n<p>\u201cI\u2019ve always been intimidated [of Bankman-Fried],\u201d Singh said. \u201cSam\u2019s a formidable character\u2026 I think over time a lot of that eroded.\u201d\u00a0<\/p>\n<p>Last week, the jury heard from other members of Bankman-Fried\u2019s executive team, including his ex-girlfriend and former Alameda CEO Caroline Ellison and Gary Wang, co-founder of FTX.\u00a0<\/p>\n<p>Singh pleaded guilty in Feb. 2023 to four federal counts, including one count of campaign finance violations. Bankman-Fried has also been charged with election financing fraud, although these charges are not included in his current jury trial.\u00a0<\/p>\n<h2 class=\"wp-block-heading\" id=\"delay-for-adderall\">Delay for Adderall?\u00a0<\/h2>\n<p>Bankman-Fried\u2019s jury trial is set to continue Tuesday, although his defense team tried to adjourn until the court determined how to get Bankman-Fried his Adderall prescription.<\/p>\n<p>Based on medical notes in August, senior judge Lewis Kaplan authorized four doses of Adderall per day. His attorneys however say that he has only been receiving two doses on days he spends in court. Bankman-Fried needs the medication so he can decide whether or not to take the stand later in the trial, his attorneys added.\u00a0<\/p>\n<p>Kaplan, who has let his \u2018no nonsense\u2019 nature show throughout the trial, denied the defenses\u2019 motion to adjourn.<\/p>\n<p>\u201cI don\u2019t even have a medical opinion that he needs it now,\u201d Kaplan said, adding that the US Bureau of Prisons has recommended a lower dose of Adderall for Bankman-Fried.\u00a0<\/p>\n<p>\u201cI can\u2019t have lawyers bringing in drugs,\u201d Kaplan added. \u201cI just can\u2019t do it.\u201d\u00a0<\/p>\n<p>Bankman-Fried\u2019s defense has been instructed to submit updated medical guidance, as has the prosecution.\u00a0<\/p>\n<p>Tuesday\u2019s trial is set to kick off with the defense taking a stab at Singh during cross-examination.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p><strong>Don\u2019t miss the next big story \u2013 join our\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blockworks.co\/newsletter?source=end\">free daily newsletter<\/a>.<\/strong><\/p>\n<p><strong>Follow Sam Bankman-Fried\u2019s trial with the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blockworks.co\/tag\/sbf-trial\">latest news from the courtroom<\/a>.\u00a0<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>If you or someone you know is experiencing suicidal thoughts or a crisis, call or text the National Sucide Hotline at 988 immediately.\u00a0 Week three of Sam Bankman-Fried\u2019s criminal trial kicked off in Manhattan Monday with the disgraced crypto mogul\u2019s old high-school-friend-turned-employee taking the stand as a government witness.\u00a0 Nishad Singh, former software engineer at [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":175506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-175505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=175505"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175505\/revisions"}],"predecessor-version":[{"id":175512,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175505\/revisions\/175512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/175506"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}